Ares Management Co. (NYSE:ARES - Get Free Report) Chairman Antony P. Ressler sold 143,569 shares of the firm's stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $131.51, for a total transaction of $18,880,759.19. The sale was disclosed in a filing with the SEC, which is available through this link.
Ares Management Stock Performance
NYSE:ARES opened at $129.53 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day simple moving average of $133.22 and a two-hundred day simple moving average of $119.73. The firm has a market capitalization of $40.10 billion, a PE ratio of 54.20, a P/E/G ratio of 0.99 and a beta of 1.17. Ares Management Co. has a 52-week low of $77.97 and a 52-week high of $139.48.
Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Thursday, February 8th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $862.71 million. During the same period in the prior year, the firm posted $1.21 EPS. Analysts forecast that Ares Management Co. will post 4.49 EPS for the current year.
Ares Management Increases Dividend
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The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Thursday, March 14th. This is a positive change from Ares Management's previous quarterly dividend of $0.77. Ares Management's dividend payout ratio is presently 155.65%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on ARES. Morgan Stanley upped their price target on Ares Management from $109.00 to $118.00 and gave the company an "equal weight" rating in a report on Wednesday, January 24th. UBS Group raised their price target on shares of Ares Management from $156.00 to $160.00 and gave the company a "buy" rating in a report on Friday, April 12th. Royal Bank of Canada increased their price objective on shares of Ares Management from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Monday, February 12th. Barclays decreased their target price on shares of Ares Management from $157.00 to $153.00 and set an "overweight" rating for the company in a research note on Monday, April 8th. Finally, JMP Securities reissued a "market perform" rating on shares of Ares Management in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $126.17.
Read Our Latest Stock Analysis on Ares Management
Hedge Funds Weigh In On Ares Management
Several large investors have recently made changes to their positions in the business. Legacy Financial Group LLC bought a new stake in Ares Management during the 3rd quarter valued at approximately $27,000. Hollencrest Capital Management bought a new stake in shares of Ares Management during the third quarter valued at approximately $27,000. Compass Wealth Management LLC purchased a new position in shares of Ares Management in the first quarter worth $28,000. Rise Advisors LLC boosted its position in shares of Ares Management by 73.9% during the fourth quarter. Rise Advisors LLC now owns 240 shares of the asset manager's stock worth $29,000 after acquiring an additional 102 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in Ares Management during the first quarter valued at $29,000. 50.03% of the stock is currently owned by hedge funds and other institutional investors.
About Ares Management
(
Get Free Report)
Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.
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